flynas Company, a prominent low-cost carrier in the Middle East and North Africa region, has announced the launch of its retail subscription period for individual investors as part of its initial public offering (IPO) on the Saudi Exchange.

Credit: Arab News

The final offer price for the shares has been set at SR80 ($21) each, which is at the top end of the previously announced price range. This decision follows a significant response from institutional investors, with the institutional tranche being oversubscribed by approximately 100 times, resulting in SR409 billion in orders from both local and international investors.

Retail investors will have access to 10,251,114 shares, which constitutes 20 percent of the total offering, while institutional investors have been allocated the remaining 80 percent. Subscriptions can be made through a broad network of banks and capital market institutions, including Albilad Capital, Alinma Capital, Alistithmar Capital, Al-Jazira Capital, Alkhabeer Capital, Al-Rajhi Capital, ANB Capital, BSF Capital, Derayah Financial, GIB Capital, Riyad Capital, SAB Invest, Sahm Capital, SNB Capital, and Yaqeen Capital.

The retail subscription window will be open from May 28 to June 1, with allocation expected to be completed by June 3 and refunds processed by June 5.